Brace For Turmoil In Global Markets As Spanish Domino Falls

"On the heels of Moody’s downgrading 28 Spanish banks, today 40 year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the United States. Here are Fitzwilson’s observations of the current crisis we face: “The monetary system is trapped. Despite various forms of quantitative easing and the forcible reduction of interest rates, the level of economic activity has begun to reverse course. The recent releases of economic indicators, in most areas of the world, have been revealing a global economy that is beginning to tank. It is clear that the levers exercised by the central banks since late-2008 are not as effective as they once were.”

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/6/26_Brace_For_Turmoil_In_Global_Markets_As_Spanish_Domino_Falls.html